Welfare Research Inc

Analysis

Welfare Research Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in November 1967, 59 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Welfare Research Inc reported income of $8.3m and spending of $8.5m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $8.3m (+118%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 1170%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Welfare Research Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Community Support Systems ($8.3m), Volunteers of America Inc ($8.3m) and Trying Together ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $335k (3.9% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $5.3m against liabilities of $5.8m, net assets of -$476k. It reported 44 employees.